PayPoint makes investment in AperiData

Real-time credit reference agency and Open Banking platform AperiData has received a £1 million investment from PayPoint, enabling it to expand its Open Banking solutions and embark on the next phase of growth.

Private equity investor Maven has exited AperiData, following the sale of its early investment in the company to PayPoint.

PayPoint’s investment in AperiData builds on an existing commercial partnership between the two companies, the focus of which is on delivering Open Banking solutions for clients across multiple sectors, including government, local authorities, charities and housing associations.

According to PayPoint, the deal “enhances” its multi-channel payments offering by adding Open Banking services.

It also called AperiData “instrumental” in the PayPoint Group’s recent work with Citizens Advice Stevenage, where it has launched an Open Banking-driven customer support tool that reduced the time spent by debt advisors gathering and reviewing individuals’ financial information, from an average of three weeks per case, to minutes.

Nick Wiles, chief executive officer of PayPoint, said: “We’re delighted to be investing in AperiData, which will further enhance our Open Banking solutions and multi-channel payments platform for clients in multiple sectors.

“This investment will enable PayPoint to continue its diversification to digital and enable further growth in Open Banking, which is one of our key building blocks to delivering £100 million EBITDA by the end of full year 2026.”

AperiData’s chief executive officer Stephen Ashworth, called PayPoint “a natural partner” as it grows its Open Banking solutions.

“The UK credit score model is over 50 years old, with little innovation over the years. AperiData is solving tangible problems in 2024 with a digital-first solution that gives any user a real time P&L on consumers and businesses,” he added.

NPIF Maven Equity Finance, which is managed by Maven and is part of the Northern Powerhouse Investment Fund, invested in Chester-based AperiData to enable commercialisation, expand its customer base, enter new markets and create jobs.

“Today’s transaction is a major step for the company and for Steve [Ashworth] and Andy [Bonsall], who worked hard to launch AperiData,” said Tom Parton, investment manager at Maven.

“We wish them and the PayPoint team, market leaders in multi-channel payments, all the best. At Maven, we focus on adding value to companies with clear and credible strategies for growth. This exit is another example of our ability to identify high-potential businesses from the earliest of stages.”

At the start of the year, AperiData formed a partnership with OneID, bringing together OneID’s bank verified identification services with AperiData’s consumer credit insights.